Chainalysis, a blockchain data analytics company has discovered that worldwide cryptocurrency gains reached $163 billion in 2021. This was 5x more than the year before or 400% higher.
Worldwide chainalysis for crypto gains
Blockchain analysis firm Chainalysis published a blog post last week titled “2021 Cryptocurrency Gains by Country: Ethereum Leads as Gains Skyrocket Around the World.”
The firm explained that its estimates are based on a combination of web traffic data and its transaction data, including “on-chain, macro-level flows of all crypto assets” it tracks.
Noting that “2021 was another strong year for cryptocurrency,” the firm wrote that for all cryptocurrencies it tracks:
Total gains for investors around the globe were $162.7 Billion in 2021, as compared to $32.5 Billion in 2020.
At nearly $47 billion, the U.S. holds the lead in realized cryptocurrency gains. The U.K., Germany and Japan are closely behind at second, with Canada, France, South Korea, South Korea, Canada, Spain, Japan, China, Turkey and Russia.
Chainalysis provided estimates of cryptocurrency gains per country and coin. This is what the blockchain data analytics company described as:
Ethereum gains are the most prominent trend. Ethereum has just surpassed bitcoin globally in terms of global realized gains at $76.3 billion to $774.7 billion.
“We believe this reflects increased demand for Ethereum as the result of defi’s rise in 2021,” the firm continued, emphasizing that most decentralized finance (defi) protocols are built on the Ethereum blockchain and use ETH as their primary currency.
Nonetheless, Chainalysis noted: “While most individual countries follow this pattern, there are some notable exceptions. Japan, for instance, received a much higher share of realized gains from bitcoin at just under $4.0 billion, compared to just $790 million in realized Ethereum gains.”
What do you think about Chainalysis’ findings? Please leave your comments below.
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